The playbook is playing out: Facebook’s finally getting closer to bottoming

With Facebook FB now at $150, down $40 (more than 20%) from its highs, I do think that a LOT of the bad news is finally priced in. Not saying it’s about to go straight back up to its highs, but I do think this is probably getting closer to a bottom.

I’d been cautious and warning you guys that FB could really get hit near-term here, and that’s now reality. So don’t panic, now that we’re here. Here’s what I’d been writing:

Facebook, Bitcoin, Cryptocurrencies: Where’s the fear?

Let’s be cool. Let’s not be greedy though. If you don’t own any FB, I do think it’s not a bad time to nibble a 1/3 tranche or so to get started. Be patient though.